In 2024, the University asked student and staff communities to share their views on proposed changes to its Responsible Investment Policy. This interim update summarises key findings from the consultation survey and outlines the next steps for the Policy review. Responsible Investment Policy (2016) In 2024, the University Executive announced a University-wide consultation and the creation of two Working Groups to review and inform its future investment approach. The summary reports of the Short-Life Working Groups have been available since Autumn 2024 and the consultation survey responses have been analysed. A draft version of an updated Policy is now being considered by the University’s governing body and its relevant committees for discussion and approval. Summary analysis of the consultation survey Staff, students and members of the University’s General Council were invited to respond to a consultation survey between May and August 2024. View the survey The survey received a total of 1,928 responses from the University’s student and staff population. These were analysed by experienced social researchers from the University’s School of Social and Political Science. The content of the survey was aligned to eight proposed changes to the existing Policy, each proposal with a mandatory ‘Yes/No’ question. There was strong support for each of the eight statements, with between 91.5% and 97.2% of survey respondents expressing an opinion in support of each of the proposed changes to the Responsible Investment Policy. With approximately 1,500 qualitative responses, the analysis summarises common themes raised by respondents. Concerns relating to investments and international conflicts are voiced in many of the written responses. A number of responses criticise the lack of an existing representations process to enable students and staff to formally express concerns regarding the University’s investments. There are calls for improved transparency in reporting and expediency in responding to any concerns from the University community or amending policy. Respondents express support for a comprehensive and ambitious decarbonisation strategy that extends beyond divestment, with many viewing the 1.5°C as a minimum standard rather than a target. The written responses also reference wider topics such as the University’s overall sustainability performance, decolonisation and concerns about use of carbon offsets and perceived greenwashing. An analysis of the consultation responses will be made publicly available alongside the new Responsible Investment Policy once it has been approved and published later this year. Findings from Short-Life Working Groups The University Executive commissioned two short-life working groups in response to discussions with students and staff who had raised concerns about our Responsible Investment Policy. The groups were created to consider issues related to specific areas of investment and provide recommendations to inform the University’s policy review. The first group undertook a review of the definition of armaments and controversial weapons in the context of the University’s investments. The second considered our approach to investments in an international context, with regard to the UN Principles for Responsible Investment and our values. Summary Report from the Short-Life Working Group on Definition of Armaments for Investments (225.26 KB / PDF) Summary Report from the Short-Life Working Group Investment Approaches in the International Context (206.17 KB / PDF) As recommended by the second working group, the University Court agreed to establish a new advisory group to carry out ethical review and due diligence of the University’s investments and to advise on the application of definitions relating to exclusions. University Court Statement on Responsible Investment Next steps A draft of the new Responsible Investment Policy is now under consideration by the University’s Investment Committee, Policy and Resources Committee and the University Executive, and will be presented to the University Court for final approval. A revised process by which students and staff views or concerns about the Policy can be better represented in future is also being considered. The remit and composition of the new advisory group, to be set up on the recommendation of the second working group, will be presented to University Court for approval, in tandem with the new Responsible Investment Policy. Following its formal constitution, the new group may recommend additional changes to the Policy, informed by their discussions on outstanding recommendations from the working groups, and consultation responses. Subject to approval, a new Responsible Investment Policy will be published in summer 2025. A second, updated version of this new policy will be published at a later date, after the new advisory group has considered all findings from the consultation survey. Related linksResponsible Investments University governance University & UN PRI transparency reports Sustainability Reporting Socially positive investments Publication date 14 Mar, 2025
